from a proof-of-work consensus mechanism to proof-of-stake, is slated to be finalized at some point between Sept. 10-20. The switch will substantially lower the network’s energy consumption.Coinbase is hoping to spur massive adoption of the token, which will have several uses after the Merge. “Our hope is that cbETH will achieve robust adoption for trade, transfer, and use in DeFi [decentralized finance] applications,” according to the white paper.
Separately, cbETH investors will be able to exit their staked ETH for cash as well as transfer their staked ETH to another non-custodial wallet, according to the white paper. Trading of the liquid token will start on Aug. 25, if all liquidity conditions are met, Coinbase said in a tweet thread. Once sufficient supply of this asset is established, trading of cbETH-USD trading pair will begin in phases, the thread added.
coinbase It’s a security, they won’t be allowed.
coinbase Thank God. I finally can convert it all to cardano
coinbase Coinbase can’t start their own staking because the SEC says that’s a security. But Etherium staking? That’s fine. 🤔
coinbase ethgate
coinbase ETHGATE
coinbase Ethgate etheremfreepass governmentoverreach stiffleinovation
coinbase So America gets stuck with stolen smart contract tech from a Canadian and Russian and attemps to kills US innovators because they did not pay the SEC upfront?
coinbase No body is allowed to stake crypto unless you're Ethereum because it's actually JPMORGAN
coinbase The sec's doubling down on their stance. Crying and complaining isn't get us ANYWHERE
coinbase What a mess
coinbase
coinbase 👍
coinbase Thanks 🚀
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